Hey, thought we'd make it known we are now publishing our write ups on Substack: substack.com/@caseresearch They're all free, so let us know what you think! Even if you think it's a load of nonsense...

Interesting, but by no means unthought of, business model: a business responsible for operating a location/associated service who are asset-light, but economically exposed to the performance of those assets. Exposure without the capex can be generally effective.

Anyone around at the BRK trade show?